Giving with Intention How One Hospital Leader Maximizes His Philanthropy with Gifts of Stock
David Brumbaugh, MD, arrived at Children’ s Hospital Colorado in 2000 for his residency in general pediatrics. He now serves as Chief Medical Officer( CMO) and has seen pediatric healthcare evolve at breathtaking speed.
Tax-Savvy Gifts of Stock
He’ s also witnessed firsthand how philanthropy accelerates innovation, expands access and improves outcomes.“ My blood, sweat and tears are part of this place, and so is my personal giving,” said Dr. Brumbaugh.“ Making regular donations with appreciated stock allows me to keep my cashflow steady, simplify my investment portfolio and do good. I want Children’ s Colorado to thrive for the next generation.”
Dr. Brumbaugh applies his taxsavvy approach to philanthropy through stock gifts by supporting the Precision Medicine Institute( among other areas), one of seven areas that qualify for the Colorado Enterprise Zone tax credit.
Precision Medicine is Today’ s Medicine
Dr. Brumbaugh is committed to helping the hospital integrate genomic insights and nextgeneration therapies into everyday medicine. What previously took years and billions of dollars can now be done in hours, allowing care teams to identify and understand conditions that were once medical mysteries and to guide families through every step of the journey.
Dr. Brumbaugh( left), Children ' s Colorado Chief Medical Officer, gives appreciated stock to support the healthcare network in a tax-savvy way.
Give Where Your Inspiration Lives
For Dr. Brumbaugh, one of the most inspiring examples of philanthropy was a donation to Children’ s Colorado from his longtime colleague and mentor, Barton Schmitt, MD, and Dr. Schmitt’ s wife Mary. Their generous gift was made in support of the Medical Career Collaborative, a paid summer program that opens healthcare careers to promising high school students from low-income families.
“ Dr. Schmitt looked upstream and widened the medical talent pipeline with his generosity,” Dr. Brumbaugh said.“ That kind of gift helped students gain experience without giving up their needed income, which is a practical barrier that too often closes doors. That kind of generosity shapes the future of care and was the inspiration I needed to plan my gifts of stock shares.”
Dr. Brumbaugh’ s story is a reminder that inspiration lives in many forms— a personal experience, a program that aligns with your passions or a mentor whose philanthropy sparks your own. To learn more about taxsavvy ways to give, contact Debbie Roberts at droberts @ childrenscoloradofoundation. org.